Economy

Vedanta Ltd. is planning invest as much as $8 billion or Rs. 56,000 crore in expanding its oil and energy businesses in India. “As India’s largest private sector oil producer, Vedanta Limited contributes 27% to the domestic production and aspires to take it up to 50%,” said Navin Agarwal, chairman, …

Minister for Civil Aviation Suresh Prabhu has sought a detailed report from aviation regulator DGCA on the grounding of A320 Neo planes due to snags in Pratt and Whitney engines. The Directorate General of Civil Aviation (DGCA), has in the meantime, submitted preliminary details on the status of the planes …

A study on air and travel-related pollution loads caused by urban transport has ranked Kochi as the 5th cleanest among the 14 Indian cities. The study carried out by the Centre for Science and Environment (CSE), New Delhi, looked at the quantum of toxic emissions of particulate matter (PM), nitrogen …

Microfinance lender CreditAccess Grameen made a tepid debut on the bourses on Thursday with the shares falling below the issue price even as the benchmark indices posted marginal gains. On BSE, the shares listed at Rs. 385, much lower than the issue price of Rs. 422 before closing at Rs. …

The Indian economy is expected to grow by about 7.5% in 2018 and 2019 as it is largely resilient to external pressures like those from higher oil prices, Moody’s Investors Service said. In its Global Macro Outlook for 2018-19, Moody’s said the run-up in energy prices over the last few …

The National Statistical Commission (NSC) has sought public comments on a panel report which showed that the economy grew at the fastest pace under the Congress rule, amid a political row over the growth numbers. The report of the panel, constituted by the NSC, was made public last week. ‘Unofficial …

Odisha aims to leverage its ports as part of a push to develop the State as a manufacturing hub in eastern India that could serve the larger South Asian regional market, according to Chief Minister Naveen Patnaik. “Odisha is fast emerging as the manufacturing hub of eastern India and we …

India has sought renegotiation of the natural gas price it is to source through a proposed $10 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline due to slump in global energy markets, a top source said. The four nations had in 2013 signed a gas sale purchase agreement (GSPA) that bench-marked the price of …

Principal Economic Adviser to the Finance Ministry Sanjeev Sanyal on Wednesday sought to allay concerns over the falling rupee against the U.S. dollar, saying India should not get too swayed by a single bilateral exchange rate. “If you take any broad based basket, you will see that the rupee is …

The West Bengal government has signed pacts with BSE and NSE to raise awareness among the State’s MSMEs to tap the capital market as an alternate funding source. The State has the highest number of micro, small and medium enterprises — 52.7 lakh in 2016-17, employing about 1.1 crore people, …

Company developing more than 11 electric vehicle projects globally: Bhade Tata Technologies Ltd. has emerged as a leading end-to-end developer of electric vehicles (EVs) for global original equipment manufacturers (OEMs) and start-ups, a top executive said.“We reinvented the company to be ready for the EV play,” said Anand Bhade, president, …

Fund inflows into segment plunge to Rs. 22 cr. from Rs. 5,650 cr. The capital markets regulator’s decision last year to reclassify mutual fund schemes to help bring uniformity in investment strategy and asset allocation seems to have made the small cap universe a big casualty, with a bulk of …

R&M’s Bengaluru unit marks its first Asia Pacific investment R&M (Reichle & De-Massari AG), a Swiss cabling solutions provider, has set up a manufacturing facility in Bengaluru as it aims to tap a surge in demand from communication networks and data centres in the country. The company plans to set …

Scheme will enable States to choose routes, provide subsidy to airlines State governments will be able to encourage tourism on preferred international air routes by offering subsidy to domestic airlines for a period of three years. The Ministry of Civil Aviation has prepared a draft scheme document for “UDAN International” …

Expects a positive response from RBI on the formation of the bank The State government is expecting a positive response from the Reserve Bank of India on the formation Kerala Bank, Cooperation Minister Kadakampally Surendran has said. Mr. Surendran said in a clarification issued here on Tuesday that the government …

Special Assembly session on August 30 to discuss flood havoc The Kerala government is looking forward to imposition of a 10% cess on State GST and rise in its borrowing limit from the present 3% to 4.5% of the Gross State Domestic Product (GSDP) to raise sufficient resources for the …

Consumption of non-coking coal is forecast to climb to 1,076 million tonnes in fiscal 2023, from 826 million tonnes in fiscal 2018, Crisil Research said in a report. In a sectoral study, Crisil Research also said that non-coking coal imports would decline to 145 million tonnes in fiscal 2023 from …

Consortium lending often led to inordinate delays in loan appraisal and resulted in swelling non-performing assets (NPAs) in the banking system, according to Rajnish Kumar, Chairman, State Bank of India. Consortium banking, as it was called till mid-90s, later became multiple banking following complaints of delay in appraisal process but …

The benchmark indices of South Korea, Indonesia and Taiwan also gained ground amid hopes that the U.S. and China would soon resolve trade disputes. Nikkei, however, lost marginal ground on Monday. Back in India, the overall market breadth also remained slightly on the stronger side with 1,437 advances against 1,307 …

At Google, there are thousands of projects, supported by machine learning. They are impacting so many products from Gmail, Smart Reply, autonomous driving, Google Assistant to cloud AI functions. Google has been pushing forward a few core aspects related to AI. The first is data, it is so important to …